Park Hotels & Resorts (NYSE:PK) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research note published on Thursday morning.

PK has been the topic of a number of other reports. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Bank of America decreased their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company dropped their target price on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Friday, September 13th. Evercore ISI lowered their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Finally, Compass Point cut their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.00.

Park Hotels & Resorts Price Performance

PK stock opened at $14.71 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The company’s fifty day moving average price is $14.33 and its 200-day moving average price is $14.85. Park Hotels & Resorts has a one year low of $12.85 and a one year high of $18.05. The company has a market capitalization of $3.04 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 0.83 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter in the prior year, the business earned $0.51 EPS. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Park Hotels & Resorts will post 2.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC purchased a new stake in shares of Park Hotels & Resorts in the 1st quarter worth $26,000. Harbor Capital Advisors Inc. purchased a new stake in Park Hotels & Resorts in the third quarter worth about $33,000. Venturi Wealth Management LLC grew its holdings in Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,841 shares in the last quarter. Quarry LP grew its holdings in Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,857 shares in the last quarter. Finally, Claro Advisors LLC purchased a new position in Park Hotels & Resorts during the 3rd quarter valued at about $69,000. 92.69% of the stock is currently owned by institutional investors.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.